22/03/2025
REINZ residential property sales data for February 2025 released this week, showed the median days to sell a home in Queenstown sat at 67days, the third month in a row that this number has climbed. A reflection of the increased properties now available to purchase, therefore there is more choice for buyers. Housing pressure while eased currently in Queenstown, can swiftly change as we enter our traditionally busy ski season.
First Home Buyers remain a dominate buyer group in our Queenstown market. Investors are also edging back into this market, lured by lower interest rates, reintroduction of interest deductibility returning to 100% from the 1st of April, amendments to the tenancy act in favour of landlords and reduced bright-line test of 2years. Both buyer groups actively buying in Hanley’s Farm. Hanley’s Farm saw the highest number of house sales during February in Queenstown, a total of nine house sales, an even mix of single dwellings and home-and-income properties.
Our Harcourts Queenstown team continues to see good attendance at our Open homes especially for entry-level residential properties, right up to properties valued circa $2mil. There is also strong demand in the same price point for properties with ‘Visitor Accommodation’ consent and we have a number of qualified out-of-town and international buyers on our database ready to buy a short-term holiday investment now.
Buying or selling, talk to Harcourts Queenstown today.
| Take a moment to read the February 2025 REINZ statistics for the Queenstown property market.
If you want to discuss the current market with the Harcourts Queenstown team, then get in touch with us today - https://tinyurl.com/5cdurf2a